Trump Administration’s Tax Bill Affects Commuters and Parking
According to the Washington Post, the tax bill that has just passed congress has some important provisions that will affect commuters and transportation, and indirectly impact parking, especially at corporate campuses.
Before now companies could provide a transportation allowance of up to $255 a month for employees to pay for their commuting expenses. This can cover train fare, a bus pass, or many other forms of mass transit. Employees were able to write off these allowances as a tax deduction. The new bill means they will no longer be able to do so.
Public Transportation officials believe that ending the tax deduction will diminish use of mass transit. According to Rob Healy of the American Public Transportation Association, it will significantly impact ridership. Less commuters using mass transit means more commuters driving and parking at work, and companies need to be prepared for that.
One way to manage this influx is with smart parking solution like Streetline’s. Corporate campuses with smart parking help their employees park more quickly and efficiently, which can mitigate an increased number of drivers. Smart parking systems also help corporate campuses and other facilities set up and manage carpooling, so companies can keep their single-occupancy vehicle (SOV) commuting percentage down.
Of course, there are many changes companies will be making in light of this significant legislation, but it’s important to keep abreast of how changes will affect your company, and prepare for the consequences with helpful services like smart parking.